Kansas City Entertainment Property For
For Sale
$3,531,000
1523 W 89th St Kansas, Kansas City, MO 64114
Entertainment property with strong performance and future development potential.
Property Size25,433 SF
Days on Market320
Property Features for 1523 W 89th St Kansas
General Information
Standard status
Active
Size
25,433 SF
Property subtype
Retail
Building Details
Building Size
25,433 SF
Listing Agency:
CP Partners
Listed By:
John Andreini · License #CalDRE #01440360
(415) 274-2715
Source:
Cppcre
Added: Nov 25, 2025
Changed: Oct 6
Last Checked: Oct 9 at 6:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CP Partners
Investment Insights
Based on property information with market context.
This property features over 4 years remaining on an absolute net lease, with 2.5% annual rental increases during the base term and 3% annual increases throughout the option period. The location is adjacent to Ward Parkway Center, a shopping center with over 550,000 square feet and 6.2 million annual visitors, ranking in the top 2% of Missouri shopping centers. The landlord retains an early termination right for future development. The unit demonstrates strong performance. The current rent is below market at $8.78 per square foot. In Missouri, the property ranks in the top 9% of attractions and the top 10% of leisure properties nationwide based on annual visits. The tenant operates a full bar with a 1 am liquor license and recently installed a new scoring and gaming system. The surrounding residential area is affluent, with average household incomes of $154,000 within a 1-mile radius.
Key Highlights
- Located in an affluent area with high average household incomes.
- Adjacent to Ward Parkway Center, a high‑traffic shopping center (top 2% in Missouri).
- Absolute net lease with 4+ years remaining.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$295,300
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,906,000
$5.9M
Cap Rate 7%
$4,218,571
$4.2M
Cap Rate 9%
$3,281,111
$3.3M
Market Conditions
NOI Build-Up for 25,433 SF
Gross rent
$405.9K $15.96/SF
− Vacancy
−$12.2K −$0.48/SF
EGI
$393.7K $15.48/SF
− OpEx
−$98.4K −$3.87/SF
NOI
$295.3K $11.61/SF
Area
Kansas City, MO
Vacancy
3.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,906,000
Cap Rate 7%
$4,218,571
Cap Rate 9%
$3,281,111
Alternative Uses
Best Use
Specialty Retail
$4.22M
$3.69M – $4.92M
NOI $295,300 @ 7.0% cap · market cap 8.36%
Second Best
Retail
$3.42M
$2.99M – $3.99M
NOI $239,207 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$6.06M
$5.30M – $7.07M
NOI $424,052 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
234k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 49%
Dining 38%
Shops & Services 9%
Electronics 2%
Target
Superstores
113,703 visits/mo
0.3 miles
Chick-fil-A
Dining
56,652 visits/mo
0.4 miles
Starbucks
Dining
17,024 visits/mo
0.2 miles
Firehouse Subs
Dining
12,213 visits/mo
0.3 miles
Five Below
Shops & Services
9,578 visits/mo
0.3 miles
Demographics for 64114, MO
24,008
Population
13,463
Households
1.8
Avg Household Size
39
Median Age
56%
College-Educated
97%
High-School Grad
7.1 sq mi
ZIP Area
3,381
Density / Sq Mi
$77,643
Median Household Income
$53,965
Median Earnings
$1,304
Median Rent
$257,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Kansas City, MO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Entertainment property with strong performance and future development potential.
Where is this storefront property located?
The property is located at 1523 W 89th St Kansas Kansas City, MO.
What is the asking price?
The asking price for this property is $3,531,000.
What are key features of this property?
This property features: Located in an affluent area with high average household incomes.; Adjacent to Ward Parkway Center, a high‑traffic shopping center (top 2% in Missouri).; Absolute net lease with 4+ years remaining.
